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It looks like the Chronic Dev Team has confirmed an untethered jailbreak for iOS 4.2.1. This comes as great news to many current-generation iOS device owners who are waiting patiently for an untethered jailbreak that does not require saved SHSH blobs and the ISPW file for iOS 4.2 beta 3, the latter of which is only available to developers. They've just a released a video showing off an iPhone 4 restarting, and then launching Cydia.

[ame]http://www.youtube.com/watch?v=C5qNray7FHU[/ame]

The release comes after a public dispute between @p0sixninja, one of the creators of this jailbreak along with @0naj and @pod2g, and @MuscleNerd. @MuscleNerd had challenged @p0sixninja to "come up with [a jailbreak] in say, 10 or 20 days," and it looks like he's delivered in even less time with that. Now, I certainly don't want to put myself in the middle of that argument, and I don't think it's good to have the people that so many people in the jailbreak community (including myself) rely on fighting, but regardless, it's very exciting that their appears to be a major breakthrough for an untethered jailbreak.

The demonstration video says to keep checking GreenPois0n.com for an update. I'm sure we'll hear more about this very soon. To all of those waiting for untethered freedom, it appears that the wait should soon be over. It seems like the only issue left is that the wi-fi logo does not show up, but I for one have faith they'll get it worked out quickly.

Update: It looks like MuscleNerd has congratulated the Chronic Dev Team. Hopefully it means everyone's getting along a bit better.